Oh no :'(

katesmommy

Just checked my credit card and I've got my first ever "over limit fee"!!

I realised I was close to the limit, as I had put some big purchases on there, and when the interest came out it took me over my limit.

Guess I'm screwed for the next 6 years when/if I want to apply for credit, mortgage etc?

Davie2909

An over limit fee isnt a marker. Just pay it and run your account within its limits from now on and you will be absolutely fine. Its not a default so its not held against you.

Cycrow

it wont show on your credit report.
Just make sure you try and bring your balance down so you dont keep getting charged.

also missed payments dont default your account either (unless you keep missing them), althou they could effect credit report

geekonthepc

Going over your credit limit doesn't show on your credit report (as already pointed out). Many people seem to think the "default fees" from CCs and banks are reported to CRAs.

If you go over your limit, you'll get the nasty charge (typically around £12), but it won't do any harm to your credit rating. Just don't make a habit of it as it gets expensive when you're having to pay fees all the time as well as interest.

bengalknights

No your credit file will be fine all that will happen is a penatly fee

YorkshireBoy

geekonthepc wrote: »

Going over your credit limit doesn't show on your credit report (as already pointed out).

Maybe not as in a '1' marker being placed, but surely if they report on the statement date it will? For example, see column 2 at the top of this credit card example report...

http://www.experian.co.uk/downloads/consumer/experian-YCRE.pdf (page 12)

...where the account's current balance and credit limit are summarised.

Now if, on statement date and with the addition of interest, the account is overlimit, then it would be shown as, say...

Current balance: £1,234
Credit limit: £1,000

...so it would "show" on the credit report that the lenders see - wouldn't it?

geekonthepc

YorkshireBoy wrote: »

Maybe not as in a '1' marker being placed, but surely if they report on the statement date it will? For example, see column 2 at the top of this credit card example report...

http://www.experian.co.uk/downloads/consumer/experian-YCRE.pdf (page 12)

...where the account's current balance and credit limit are summarised.

Now if, on statement date and with the addition of interest, the account is overlimit, then it would be shown as, say...

Current balance: £1,234
Credit limit: £1,000

...so it would "show" on the credit report that the lenders see - wouldn't it?

Fair point, it would show the balance and credit limit, so in that respect yes it would.